by our College Data Analytics TeamMany students will never be charged the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The total cost of going to Erie Institute of Technology Inc can seem overpowering, but remember that the majority of students are given some form of financial assistance.
Just what financial assistance solutions will Erie Institute of Technology Inc provide, and just what are you going to be eligible for? Read on for answers. Scroll down to learn how much school funding will be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Continue reading to find information to help you understand just how much assistance you can expect to receive from Erie Institute of Technology Inc.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Looking at the entering class at Erie Institute of Technology Inc, 90% of first-time, full-time freshmen received some form of financial aid roughly 46 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 86% | $9,440 |
| Institutional grants & scholarships | 39% | $3,045 |
| Federal Pell grants | 69% | $5,544 |
| State/local grants | 55% | $5,503 |
| Federal student loans | 65% | $7,169 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Here, approximately 70% of undergraduates were awarded grant or scholarship aid averaging $8,970 (covering around 129 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 70% | $8,970 |
| Federal Pell grants | 48% | $5,490 |
| Federal student loans | 50% | $7,039 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $8,307.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $17,794 |
| $30,001 – $75,000 | $19,382 |
| Over $75,000 | $20,936 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $30,164 |
| Off-campus title-IV students | $19,173 |
For a personalized estimate based on your family’s financial situation, use Erie Institute of Technology Inc’s net price calculator: www.erieit.edu/consumer-info/net-price-calculator/.
A typical borrower at Erie Institute of Technology Inc leaves with $8,835 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $8,835 |
| Median federal debt (graduates only) | $10,738 |
| Typical 10-year monthly payment (graduates) | $113.84/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
A single median figure conceals how much debt outcomes differ student to student. The four reference points below map the debt distribution at Erie Institute of Technology Inc.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,167 |
| 25th percentile | $6,333 |
| 75th percentile | $13,875 |
| 90th percentile (highest-debt students) | $18,250 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $7,795 |
| Middle income | $9,500 |
| High income | $8,977 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,233 |
| Continuing-generation students | $10,917 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,204 |
| Independent students | $9,500 |
A handful of calculated indicators summarize the debt outlook at Erie Institute of Technology Inc.
Most undergraduate borrowing runs through the federal Stafford loan program. The aggregate figures below show how active the program is at Erie Institute of Technology Inc:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1829 |
| Total Stafford loan amount | $21,977,284 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 19 |
| Total GI Bill amount | $193,889 |
| Average GI Bill amount per recipient | $10,205 |
References
More about our data sources and methodologies.